Credit Vocabulary

A number assigned to a person that indicates how likely they are to repay a loan.

• Credit score

• credit report

• credit limit

• statement closing date

A request by a bank or other institution to view a person’s credit report

• credit limit

• credit report

• hard credit check

• credit score

The amount of credit a person is using compared to their credit limit.

• credit utilization

• credit score

• credit report

• hard credit check

A fixed amount of money to be repaid on a set schedule.

• credit score

• credit utilization

• credit limit

• installment loan

The last day of a person’s billing cycle and the day the statement is sent to the person.

• hard credit check

• credit score

• statement closing date

• credit report

The maximum amount of money a person can borrow.

• statement closing date

• installment loan

• credit limit

• credit score

A statement of a person’s credit activity, accounts and credit score.

• credit utilization

• credit report

• credit score

• credit limit